Brief: Sunopta says intends to exit its nutrition bar product lines and operations in Carson City, NV

SunOpta

27/09/2017 12:30

Sept 27 (Reuters) - Sunopta Inc  SOY.TO : 
    * Says intends to exit its nutrition bar product lines and 
operations in Carson City, NV 
    * Says cessation of operations is part of co's ongoing 
portfolio optimization strategy and value creation plan 
    * Sunopta Inc - expects to incur charges of approximately 
$8.0 million to $9.5 million relating to facility closure 
    * Sunopta Inc says working with its nutrition bar customers 
to expedite exit from these operations and is targeting 
completion by end of fiscal 2017 
    * Sunopta Inc - decision to cease operations at carson city 
is accretive to ebitda and allows co to redeploy both financial 
and human resources towards more profitable segments of co's 
business 
    * Sunopta Inc - non-cash and cash charges relating to 
facility closure are expected to be recognized during third and 
fourth quarters of fiscal 2017 
    * Sunopta-Cash charges relating to facility closure are 
expected to be largely offset by recovery of working capital 
after full wind-down of operations 
 
Source text for Eikon:  ID:nBw8NFrdsa  
Further company coverage:  SOY.TO  
 
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